The Singing Machine Company Inc (NASDAQ: MICS) shares are trading higher Tuesday after the company launched a new party accessory line available at Walmart.
What To Know: The Singing Machine said its new party accessory product line is now available in approximately 866 Walmart Inc (NYSE: WMT) stores across the U.S.
The new product line is built around the company's Celebration Mic, which features a variety of pre-recorded songs, multi-colored LED lights and an integrated speaker to enhance the experience. The product comes with a suggested retail price of $9.97.
"We are very pleased to expand our relationship with Walmart. As the largest U.S. retailer, and our largest single customer, Walmart is a critical part of our consumer electronics sales model," said Gary Atkinson, CEO of the Singing Machine.
The Singing Machine designs and distributes an assortment of at-home and in-car karaoke entertainment products.
MICS Price Action: The Singing Machine shares were up 41.8% at $2.20 at the time of publication, according to Benzinga Pro.